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July 29, 2003

Radix Marine

Silverdale-based Radix Marine, a publicly traded company specializing in homeland defense initiatives in the marine industry, has signed a letter of intent for partial acquisition of Radix Ortega Group, a minority-owned marine and environmental engineering firm based in Seattle. Under terms of the letter of intent, Radix Marine will acquire up to 40 percent of Radix Ortega, preserving Radix Ortega's status as a minority business enterprise at both the federal and state levels. Radix Ortega has contracts with Washington State's Department of Transportation, the Port of Seattle, and the U.S. Navy Engineering Field Activity Northwest, as well as environmental assessment work for marine construction projects at the Naval Shipyard Puget Sound in Bremerton. Miguel Ortega, founder and owner of Radix Ortega, will remain president and CEO after the merger.




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